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Intuit (INTU) Stock Moves -0.46%: What You Should Know
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Intuit (INTU - Free Report) closed the latest trading day at $609.45, indicating a -0.46% change from the previous session's end. This change was narrower than the S&P 500's 0.77% loss on the day. Elsewhere, the Dow lost 0.6%, while the tech-heavy Nasdaq lost 1.05%.
Shares of the maker of TurboTax, QuickBooks and other accounting software witnessed a loss of 5.86% over the previous month, beating the performance of the Computer and Technology sector with its loss of 12.91% and underperforming the S&P 500's loss of 5.85%.
Market participants will be closely following the financial results of Intuit in its upcoming release. The company plans to announce its earnings on August 22, 2024. The company's earnings per share (EPS) are projected to be $1.86, reflecting a 12.73% increase from the same quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $3.08 billion, indicating a 13.73% increase compared to the same quarter of the previous year.
Investors might also notice recent changes to analyst estimates for Intuit. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Intuit currently has a Zacks Rank of #3 (Hold).
With respect to valuation, Intuit is currently being traded at a Forward P/E ratio of 32.12. This represents a premium compared to its industry's average Forward P/E of 28.88.
One should further note that INTU currently holds a PEG ratio of 2.15. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. As the market closed yesterday, the Computer - Software industry was having an average PEG ratio of 2.21.
The Computer - Software industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 102, this industry ranks in the top 41% of all industries, numbering over 250.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Intuit (INTU) Stock Moves -0.46%: What You Should Know
Intuit (INTU - Free Report) closed the latest trading day at $609.45, indicating a -0.46% change from the previous session's end. This change was narrower than the S&P 500's 0.77% loss on the day. Elsewhere, the Dow lost 0.6%, while the tech-heavy Nasdaq lost 1.05%.
Shares of the maker of TurboTax, QuickBooks and other accounting software witnessed a loss of 5.86% over the previous month, beating the performance of the Computer and Technology sector with its loss of 12.91% and underperforming the S&P 500's loss of 5.85%.
Market participants will be closely following the financial results of Intuit in its upcoming release. The company plans to announce its earnings on August 22, 2024. The company's earnings per share (EPS) are projected to be $1.86, reflecting a 12.73% increase from the same quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $3.08 billion, indicating a 13.73% increase compared to the same quarter of the previous year.
Investors might also notice recent changes to analyst estimates for Intuit. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Intuit currently has a Zacks Rank of #3 (Hold).
With respect to valuation, Intuit is currently being traded at a Forward P/E ratio of 32.12. This represents a premium compared to its industry's average Forward P/E of 28.88.
One should further note that INTU currently holds a PEG ratio of 2.15. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. As the market closed yesterday, the Computer - Software industry was having an average PEG ratio of 2.21.
The Computer - Software industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 102, this industry ranks in the top 41% of all industries, numbering over 250.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.